August 23, 2011
Some Rules Affecting Property Flips – FHA
Someone asked me the other day if a Reverse Mortgage could be done on a property that had recently been acquired by the Seller (less than 90 days ago) Unfortunately for Reverse Mortgages (also known as HECM , i..e Home Equity Conversion Mortgage ) HUD doesn’t allow property flips. Below is an additional FHA related flip rule : If a……